Wednesday, January 23, 2013

OMG, Space Invaders Are Bankrupt, Cut Down in Their Prime

No More Atari 2600 - Has Pac-Man Chomped His Last Bite?

The very first mass market successful game playing console was the Atari 2600.  Hooked up to a TV set young and old alike could play Space Invaders.  Yes the unit was expensive, unreliable and clunky, but it tapped into a demand for computer games and set the stage for today’s multi-billion dollar industry.

A classic Atari home video game system.

Now apparently the company has reached bottom.

The U.S. operations of iconic but long-troubled video game maker Atari have filed for bankruptcy in an effort to break free from their debt-laden French parent.

Atari Inc. and three of its affiliates filed petitions for Chapter 11 reorganization in U.S. Bankruptcy Court in New York late Sunday.

But wait, there is hope. The U. S. bankruptcy process is designed to breathe new life into companies that could be viable.

Atari Inc. has secured a commitment for $5.25 million dollars in debtor-in-possession financing to continue operations and release games. If Chapter 11 is successfully completed, the U.S. business could reemerge with its own resources and little or no debt to BlueBay.

so maybe those Space Invaders will live yet another life to bombard the Earth.

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